William Hill bucks trend and reports “positive performance”

The UK retail sector may be struggling to cope during tough financial times, but one company that seems to be not only surviving but thriving is bookmaker William Hill.

With offices in both Leeds and London, the company has seen an upturn in not only on-line betting but in bets placed over the counter in its shops based across the country. What makes this surprising is the general assumption within the industry that over the counter and machine services were in decline AS Growth in over-the-counter betting has generally lagged that of online in recent years. However, an 11% growth in quarter 4 of 2011 has forced the industry to rethink the “structured decline” theory and could potentially instead drive a re-rating and upgrades programme.


William Hill said it would meet market expectations with net revenue expected to be up six per cent and operating profit expected to be around £274m, compared to £276.8m in 2010, when results were boosted by a successful FIFA World Cup.

Chief Executive Ralph Topping said: “This is a very positive performance, particularly in a year without a significant international football tournament and with a £9m rise in VAT payments as a result of the rate change.

“Going into 2011, we were, like many businesses with a strong presence in the UK, predicted to face a challenging consumer backdrop, but our overall performance shows we’ve seen the benefit of being a predominantly low ticket leisure activity.”

Not to be outdone, William Hill Online, the company’s joint venture with Playtech, achieved net revenue growth for the year of 28 per cent, benefiting from a 51 per cent rise in sports betting.